ALGONA, IA / ACCESSWIRE / June 27, 2022 / American Power Group Corporation ("APG") (OTC PINK:APGI) announced they will be showcasing their V6000 Dual Fuel Technology for existing Class 8 diesel-powered trucks to the members attending the National Star Route Mail Contractors Association's ("NSRMCA") 2022 National Convention to be held August 7-10, 2022 in Sacramento, California. APG will be sponsoring and presenting at the Convention luncheon on Tuesday, August 8th. The NSRMCA is headquartered in Washington and represents some 1,700 fleet operators who contract with the United States Postal Service for the over-the-highway transportation of the U.S. mail.
APG will be presenting a practical, affordable, and proven alternative fuel solution for the NSRMCA members to convert their existing Class 8 trucks with APG's V6000 Dual Fuel System. The V6000 provides the ability to realize meaningful net fuel savings through the substitution of natural gas for diesel, while significantly lowering diesel-related criteria pollutants and carbon footprint. APG has an industry-leading 500+ EPA approvals and multiple CARB Executive Orders for vehicular solutions.
In May 2022, APG announced that Sapphire Gas Solutions, an industry leader in mobile RNG, LNG, and CNG services across the U.S. realized a 25% to 30% net fuel cost savings while operating APG's Dual Fueled 2015 Freightliner CC132 Coronado Sleeper demo truck with a Detroit Diesel 505HP diesel engine.
In September 2021, APG noted that their V6000, operating on a SCR/DEF diesel engine displacing 50% to 60% of diesel fuel consumption with domestically available renewable natural gas ("RNG") from dairy manure could potentially eliminate between 500 to 610 metric tons of CO2 per year per vehicle and generate a significant negative Carbon Intensity Score (-104 to -145 gCO2e/mj). In addition, several EPA/CARB certified emission test labs have validated the following emission reductions when running APG's vehicular Dual Fuel System and compressed natural gas compared to 100% diesel on model year 2010 engines and newer for which APG has EPA approval:
- NOx reduction of 30% to 50%
- Particulate Matter (PM) reduction of 40% to 70%
- Carbon Monoxide (CO) reduction of 80% to 99%
- Non-Methane Hydrocarbon reduction by 99%
Matt VanSteenwyk, APG's Chairman commented, "With a cost-effective conversion price of approximately $10,000 per truck plus a nominal monthly cost of a leased natural gas tank, we strongly believe APG's V6000 Dual Fuel System is the most affordable and effective alternative fuel solution for existing Class 8 trucks available today. The ability to provide potential net fuel savings in the 25% to 30% range based on current average fuel pricing provides a fleet operator with a significant competitive advantage in their market."
Gregory Reed, NSRMCA Executive Director stated, "Rising fuel prices are at the top of our member's priority list. With no near-term relief in sight, it is critical that we assist our membership with access to cost effective solutions to address this topic. NSRMCA will be devoting several sessions at this year's National Convention on this topic and we are very pleased APG will be attending and educating our membership about the benefits of their V6000 Dual Fuel System."
About American Power Group Corporation (www.americanpowergroupinc.com)
American Power Group's subsidiary, American Power Group Inc. provides cost effective dual fuel engine solutions to help accelerate an alternative fuel low-carbon future. Our patented Turbocharged Natural Gas® Dual Fuel Conversion Technology is a unique hardware and software solution that can enable existing high-horsepower vehicular and stationary diesel engines to safely displace a significant percentage of diesel with various forms of clean burning natural gas including low-carbon and negative-carbon renewable natural gas (RNG), captured flare-stack methane gas, conditioned well-head gas, bio-methane gas, compressed natural gas (CNG) and liquid natural gas (LNG). APG's dual fuel solution provides users with a proven technology to meet their Environmental, Social and Corporate Governance ("ESG") objectives by lowering criteria pollutants and greenhouse gas emissions.
About National Star Route Mail Contractors Association (www.nsrmca.org)
The NSRMCA is headquartered in Washington, DC and represents the United States Postal Service's surface transportation network, which is comprised of some 1,700 companies who contract with the Postal Service for the over-the-highway transportation of the mail. NSRMCA is non-profit and is committed to representing the interests of the surface transportation network and its members. It is the only official organization recognized by the U.S. Postal Service, the U.S. Congress, the Department of Labor, the Department Transportation and other federal and state agencies to represent and speak on behalf of the nation's USPS Highway Contractors.
Caution Regarding Forward-Looking Statements and Opinions
The matters described herein contain forward-looking statements and opinions, including, but not limited to, statements relating to outstanding dual fuel conversion quotes for $4 million + and our ability to turn these quotes into actual orders. These forward-looking statements and opinions are neither promises nor guarantees, but involve risks and uncertainties that may individually or mutually impact the matters herein, and cause actual results, events and performance to differ materially from such forward-looking statements and opinions. These risk factors include, but are not limited to, the fact that we may not be able to convert the $4 million+ of quotes into actual orders, the fact our dual fuel conversion business has lost money in prior fiscal years and the risk that we may require additional financing to grow our business, the fact that we rely on third parties to manufacture, distribute and install our products, we may encounter difficulties or delays in developing or introducing new products and keeping them on the market, we may encounter lack of product demand and market acceptance for current and future products, we may encounter adverse events or economic conditions, we operate in a competitive market and may experience pricing and other competitive pressures, we are dependent on governmental regulations with respect to emissions, including whether EPA approval will be obtained for future products and additional applications, the risk that we may not be able to protect our intellectual property rights, factors affecting the Company's future income and resulting ability to utilize its NOLs, the fact that our stock is thinly traded and our stock price may be volatile, and the fact that the exercise of stock options and warrants will cause dilution to our shareholders. Readers are cautioned not to place undue reliance on these forward-looking statements and opinions, which speak only as of the date hereof. Except as required by law, the Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements and opinions that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contact:
Chuck Coppa, CEO/CFO
American Power Group Corporation
SOURCE: American Power Group Corporation
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